Massachusetts Financial Services Co. MA Raises Position in Genius Sports Limited (NYSE:GENI)

Massachusetts Financial Services Co. MA increased its position in shares of Genius Sports Limited (NYSE:GENI - Free Report) by 20.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,351,090 shares of the company's stock after purchasing an additional 919,980 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.43% of Genius Sports worth $33,070,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GENI. White Pine Capital LLC raised its holdings in shares of Genius Sports by 1.2% in the third quarter. White Pine Capital LLC now owns 327,411 shares of the company's stock valued at $1,745,000 after buying an additional 3,750 shares during the last quarter. NewEdge Wealth LLC acquired a new position in shares of Genius Sports during the fourth quarter worth approximately $62,000. Orion Portfolio Solutions LLC bought a new stake in shares of Genius Sports during the third quarter valued at approximately $58,000. Algert Global LLC acquired a new stake in shares of Genius Sports in the third quarter valued at approximately $68,000. Finally, Brandywine Global Investment Management LLC raised its position in Genius Sports by 2.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 670,300 shares of the company's stock worth $3,573,000 after purchasing an additional 14,000 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Price Performance

Shares of NYSE GENI traded up $0.05 during midday trading on Friday, reaching $5.50. 1,066,797 shares of the stock were exchanged, compared to its average volume of 1,779,201. Genius Sports Limited has a 12 month low of $4.62 and a 12 month high of $8.45. The business has a 50-day simple moving average of $5.50 and a two-hundred day simple moving average of $5.91. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -14.10 and a beta of 1.98.

Genius Sports (NYSE:GENI - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). The business had revenue of $119.72 million during the quarter, compared to analyst estimates of $116.53 million. Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The firm's revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. Equities research analysts expect that Genius Sports Limited will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GENI has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Thursday, May 9th. B. Riley assumed coverage on shares of Genius Sports in a research report on Friday, April 5th. They set a "buy" rating and a $9.00 target price on the stock. JMP Securities raised their target price on shares of Genius Sports from $8.00 to $9.00 and gave the company a "market outperform" rating in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group started coverage on shares of Genius Sports in a research note on Tuesday, April 16th. They set a "buy" rating and a $7.50 price target for the company. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $9.33.

Genius Sports Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.